SAN FRANCISCO, October 10, (THEWILL) – The Minister of Finance, Mrs. Kemi Adeosun has pleaded with members of G-24, which represents the world’s most industrialised nations, to compel multinational corporations to pay their fair share of taxes in places where they operate.
She made this plea while speaking with reporters in Washington D.C on the outcome of the closed door meeting of the G-24 Finance Ministers and Central Bank Governors on the sideline of the ongoing International Monetary Fund, IMF/the World Bank Group General Meetings, yesterday.
Lamenting that the country annually loses huge amounts of money through tax evasion perpetrated by multinational corporations, she stated that the appeal become imperative because Nigeria was determined to block revenue leakages and streamline its finances to develop infrastructure and create jobs.
“We were able to make two contributions to members of the G-24. One of the contributions was the need for accelerated investment in infrastructure as the way out of our current situation which we believe will create jobs and reduce poverty. Another issue that we raised was tax evasion and the fact that we need the multilateral agencies to support us.
“Trade is very important, but we need the multilateral nations to ensure that all multinational companies that trade in Nigeria pay their fair share of taxes and that point was well taken,” Adeosun said.
She however expressed optimism that before the end of the IMF/World Bank meetings, she would be able to tie up some of the pledges agreed on to specific projects in the housing and energy sectors.
On the possibility of accessing IMF loans, the minister reiterated the resolve of Nigeria not to rely on loans from the IMF, but rather to pursue budget support facilities from the World Bank and the African Development Bank, AfDB.
